Insulet (PODD)

Wearable, tubeless and seamless insulin delivery.

Who are they?
Insulet develops, manufactures, an sells the Omnipod, an insulin delivery system for people with diabetes.

Why bother?

  • Insulet’s Omnipod has a unique design that makes it easier to use and less obtrusive then conventional insulin pumps.
  • The company has an enormous untapped opportunity: the market is still dominated by conventional needles, whilst Insulet has made great strides in improving coverage and access.
  • The Horizon closed-loop system, to be introduced this year, could make pumps far more appealing to patients with insulin-dependent diabetes. This could replace the onerous and risky manual procedure of injecting one-self with insulin.

Market opportunity?

  • Diabetes affects 9% of US population. The global prevalence in people over 18 years was 4.7% in 1980, that is now 8.5%
  • There are other players like Medtronic, Roche and others, but what makes Insulet unique is its tubeless system - which allows patients to wear the device while swimming, bathing, etc.

It’s stock is trading 19.1% below all time high, at the time of writing.